Indonesian distributed solar developer PT Investasi Hijau Selaras, known as Hijau, has raised $10 million in an early-stage funding round to expand its clean energy infrastructure across Indonesia. The investment was provided by Singapore-based fund manager Clime Capital through its South East Clean Energy Fund II (SEACEF II).
The funding is expected to support Hijau’s growth at a time when Indonesia’s solar power market remains relatively underdeveloped compared with other Southeast Asian markets. With a large population, expanding industrial activity and increasing demand for cleaner energy, the country offers significant potential for distributed solar power.
Founded in 2017, Hijau develops rooftop solar projects mainly for commercial and industrial customers. The company follows a zero-capital-expenditure model, allowing businesses to install and use solar systems without making large upfront investments in equipment.
Under its business model, customers access solar installations through operating leases. This approach allows businesses to reduce their electricity costs while avoiding the financial burden of purchasing and installing solar equipment. It also helps customers lower their carbon emissions and improve their sustainability performance.
Hijau plans to use the new funding to accelerate the development of its project pipeline and increase the number of operational solar installations across the country. The company also expects that a larger portfolio of operating projects will strengthen its financial position and help it attract debt financing for future expansion.
Victor Samuel, president director of Hijau, said the investment from Clime Capital would help the company expand its clean energy solutions nationwide. He also emphasized the company’s focus on maintaining quality, safety and sustainable operations as it grows.
Clime Capital is regulated by the Monetary Authority of Singapore and manages the SEACEF I and SEACEF II funds. The investment firm has teams operating across several Southeast Asian markets, including Indonesia, Vietnam, India, the Philippines and Singapore.
The firm has previously invested in clean technology and energy transition companies in the region, including Vietnam-based businesses such as Levanta, EBOOST and Stride.
John Colombo, Clime Capital’s country manager for Indonesia, said early investment in commercial distributed energy can provide Indonesian businesses with immediate savings on electricity bills. He added that supporting such projects can also help accelerate the country’s wider transition toward cleaner energy.
The latest investment marks an important step for Hijau as it seeks to scale its rooftop solar business and contribute to Indonesia’s growing clean energy sector.
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